Eastcomtrans secures $30m loan from EBRD

Eastcomtrans, the privately owned Kazakh rail company has secured a $30m loan from the EBRD for the purchase of rolling stock and other cargo transit equipment. Some of the loan will also be used for balance sheet restructuring and a further tranche of $25m is under negotiation.“This financing was organised in a difficult economic setting with limited access to international funding available to the company. The loan demonstrates our commitment to Kazakhstan, where this year we are on track to have record investment totalling $750 million,” said Thomas Maier, EBRD managing director for infrastructure, at the signing of the agreement in Almaty. Astana Times